There are five factors that comprise your credit score. These are listed below in order of importance, just as an underwriter will look at the score: • Payment History: 35% impact. Paying your bills on time and in full has a positive impact. Late payments, judgments and charge-offs have a negative impact. Missing a high payment has a more severe impact than missing a low payment. Delinquencies that have occurred in the last two years carry more weight than older items. • Outstanding Credit Balances: 30% impact. What they’re looking for here, is how many accounts you have open, and what the balances are on the accounts. If you owe a lot of money on a lot of accounts, this is a risk that, in the future, you’re more likely to make payments late, or not at all. The amount of your outstanding balance compared to your available credit limit…

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